A FATCAT banker who is axing thousands of Royal Bank of Scotland jobs has cashed in shares worth £4.3million.

John Hourican, 41, sold the shares, awarded in 2009, months after he took a £2.5million bonus on top of his £750,000 salary.

His total pay and perks at RBS, where he heads the global banking and markets (GBM) division, have topped £7.5million.

The latest windfall comes as GBM, whose profits have plunged 53per cent, are about to shed 3500 jobs.

Last night, Labour’s Scottish Treasury spokeswoman Cathy Jamieson slated the Tories for “empty rhetoric” over bonuses and attacked RBS, who are 83per cent owned by the taxpayer, for their “business as usual” stance.

Jamieson said: “These multi-million bonuses will not be well understood by RBS employees who have lost their jobs or taxpayers who bailed out this failed bank.

“It’s not just the public who are being let down but also bank staff who could never dream of such a massive payout.”

Unions and campaign groups have already called on RBS executives to give up their huge cash perks.

David Fleming, of Unite, said: “All the banking bosses should take a long hard look in the mirror before they pat themselves on the back and accept the massive rewards.”

Around 30,000 RBS staff have lost their jobs since the bank was bailed out by the Government in 2008.